Europe faces extreme challenges; the whole political and administrative mechanism being threatened. The terrorist attacks in Paris, and subsequently avoided bombings in Germany and Belgium have created a general state of panic. The problem is even more profound as the very foundation of the European construction is threatened: the reinstatement of border controls between the member states threatens the existence of the Schengen space, a major objective of the European Union, social dynamics, will be affected badly, whether it's travel (tourism) or labor mobility.

In addition, trade between European countries will suffer.

For example, France has declared a state of emergency, and in the following months import and export activities will be restricted in a drastic manner. So France will lose billions of euros, and its commercial partners the same.

On Friday, European leaders met in Brussels and came to the conclusion that the European Union in its current form cannot handle the challenges which have arisen lately. The idea of a customs union and an economic one seems increasingly harder to achieve. In recent years, the Euro Zone has been faced with numerous problems which have stopped the evolution predicted: the financial crisis persisted, enormous sovereign debts of some member states, the crisis of refugees and immigrants, and now the threat of terrorism. This last item seems to have been decisive. European leaders are aware that a change of European policies in all sectors of activity is imminent and at the same time required.

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Europe's development strategy launched in the 1950s by founding members is overwhelmed by contemporary realities. In the last decade the European project has been expanding steadily, and with this expansion process the signs of weakness occurred. The borders of the Union have arrived in the eastern part of the continent. The vulnerability of borders, but also unpredictable phenomena such as immigrants or refugees have brought the European project close to political collapse.